Given:Net profit b/d: ₦10,000 Interest on capital (M): ₦2, 000 Interest on ...

Question

Given:

Net profit b/d: ₦10,000
Interest on capital (M): ₦2, 000
Interest on capital (K): ₦1, 000
Partners' on salary (K): ₦800
Interest on drawings (M) ₦500
Profit sharing ratio (M) and (K): 3:2

Determine M's share of profit?

Options

B)

4,020